, 1887-12-22
Obiecting to a Recess.

WASHINGTON, To-day Mr.. Allison
called up the holiday resolution and moved
its adoption.
Mr.. Plumb thought the was no reason
why congress should adjourn for the holi-
days. He referred to Hugh's resolution
that congress should not adjourn until
some disposition of the treasury surplus
was made, and said he didn't agree with the
presidents statemen that the responsible
tY of non action in the natter of the sur
pulls would rest with congress. The prim-
airy responsibility for the con lition of the
treasury rested with the president, who
totally disregarded the law which required
him to spend the surplus in the purchase
of the national debt. The president in
his message omitted to state that the last
congress passed a law requiring him af-
Tentatively to pay $40, 900, 900 a month in
discharge of the public debt, and hat the
president had put that bill IN his pocket,
thus preventing its becoming a law.
The secretary of the treasury was to-day
depositing $40, 600, 900 Of alleged surplus
with the national banks to be loaned to
the people at such rates as their necessity
might compel them to pay. The bonds
of the United States could be purchased
at a rate which would yield % per cent,
and yet instead Of using part of the sur
| plus for that purpose it was given to the
national banks to be used for their profit.
The president had forgotten that the river
and harbor bill, which appropriated $l4,-
600, 900, had failed, but not because of
any lack of action by congress. The def
cheney bill, covering over $1,000, 900. had
also failed last session because of the neg
lect of the Democratic majority In the
lN,,.o - IL H.. -
sums would have made a very comforta-
BILE addition to the current funds of the
people.
AT this juncture he Plumb never did
agree with the Republican policy of the
treasury department, but that policy was
not under suspicion of being unduly in
fluenced by New York banks. Just as
fast as there was n surplus of $40, 900. 900
in the treasury under the Republican ad-
ministration it had been put out in the
discharge OF obligations of the United
States. 1t never had been paid out after
consultation with the officers of the New
York banks. The trouble with the present
administration was that it had no eye to
anything except what related to the bank
ing interests of New York City. He pre-
sumcd the adjournment resolution would
pass, but he believed it would not be with
q fair regard to public interests.
Beck said that such recess was usual,
and he did not see why the senate should
go into a discussion of the presidents
policy when they had all next year before
them. But. there was something which
had been overlooked by the senator from
Kansas. He had not told the country
that the policy of the Republican party,
by imposing and maintaining unreasona-
BILE high taxation, had produced a treas
ury surplus and that the same party was
determined to hold it there or to waste it
in such schemes as the Republican party
might desire. The senator had not told
the country that the Republican party had
so adjusted the debts OF the United States
that they could not be paid with the
money thus brought by high taxation into
the treasury, unless such promises were
paid to bondholders as they might de-
mand. The policy OF the Republican
party bad postponed the payment of $780,
000,0 900 of the debt till 1891, and of $74,-
600, 600 till 1907.
The president had paid every dollar of
the 3 per cent bonds that were payable
without a paying premium which the
bondholders might, see fit to ask. The
Democratic party, headed BY the presi-
dent, was ~eudeavUring to reduce taxes 50
that so large a surplus should not come
into the treasury. All that the president
had said was that it was not a proper
thing for the secretary of the treasury to
pay $3.50 or $3.50 for every 800 of the
public debt, and that it was the duty of
congress to reduce the taxation of people
to a point that there would not be such
surplus.
Dolph argued that if proper a~ppropria-
tions were made for the river and harbors,
dependent pensions, encouragement Of
American ommerc and for the Nicara-
guam canal, there would be no surplus in
! the treasury, and he thought hat such a